Axa decreased its stake in shares of Noble Energy, Inc. (NYSE:NBL) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 332,396 shares of the oil and gas development company’s stock after selling 30,477 shares during the period. Axa owned 0.07% of Noble Energy worth $9,686,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Massey Quick Simon & CO. LLC acquired a new position in Noble Energy during the third quarter worth approximately $155,000. Sawyer & Company Inc acquired a new position in Noble Energy during the fourth quarter worth approximately $169,000. Lourd Capital LLC acquired a new position in Noble Energy during the fourth quarter worth approximately $203,000. Levin Capital Strategies L.P. acquired a new position in Noble Energy during the fourth quarter worth approximately $219,000. Finally, FDx Advisors Inc. acquired a new position in Noble Energy during the fourth quarter worth approximately $231,000. 95.71% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. UBS Group assumed coverage on shares of Noble Energy in a research report on Wednesday, March 7th. They set a “buy” rating and a $40.00 price target for the company. Royal Bank of Canada set a $37.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research note on Friday, February 23rd. BMO Capital Markets reiterated a “buy” rating and set a $38.00 price objective on shares of Noble Energy in a research note on Tuesday, February 27th. Jefferies Group reiterated a “buy” rating and set a $41.00 price objective on shares of Noble Energy in a research note on Friday, February 23rd. Finally, Scotiabank set a $35.00 price objective on shares of Noble Energy and gave the stock a “hold” rating in a research note on Saturday, November 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $40.60.
Noble Energy (NYSE:NBL) last announced its earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.28. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. analysts anticipate that Noble Energy, Inc. will post 0.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.40 annualized dividend and a dividend yield of 1.30%. Noble Energy’s dividend payout ratio (DPR) is presently -10.67%.
Noble Energy declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 15th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, CFO Kenneth M. Fisher sold 7,621 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $28.80, for a total value of $219,484.80. Following the completion of the transaction, the chief financial officer now directly owns 197,144 shares in the company, valued at $5,677,747.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David L. Stover bought 19,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was purchased at an average price of $26.31 per share, with a total value of $499,890.00. Following the completion of the purchase, the chief executive officer now directly owns 727,254 shares of the company’s stock, valued at approximately $19,134,052.74. The disclosure for this purchase can be found here. 1.96% of the stock is currently owned by corporate insiders.
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Noble Energy Profile
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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